BAKU, Azerbaijan, Jan. 12
By Tamilla Mammadova – Trend:
Capital Locus has helped Georgian LLC Chirina in attracting a 10 miillion lari ($3.03 million) loan from the European Bank for Reconstruction and Development (EBRD) and its partner commercial banks, Trend reports via Georgian media.
The financial support is to develop Georgia’s biggest meat products manufacturing company.
As noted by Chirina founder and director Rezo Vashakidze, the company has invested 12 million euros in the expansion of the production.
“Despite the 2020 challenges, we have successfully finished our investment project. As a result, our monthly production will increase to 2,000 tons from 1,200 tons. Starting in March 2020, fourteen broiler farms have been operating in Sartichala and the total value of this project is 12 million euros. In the second half of 2020, Chirina launched a new investment project worth 20 million lari ($6.07 million) for arranging new refrigerator stores and building a sausage production factory that will launch operation in the second half of 2021," he said.
According to Vashakidze, the project is implemented with the assistance of EBRD and partner commercial banks. Starting 2018, Capital Locus has been Chirina’s partner in the supply of investment and banking services.
As noted by Capital Locus owner and manager Avtandil Gogol, thanks to his company Chirina has attracted financial support of 10 million lari.
“Chirina is the biggest meat production company in the Caucasus. The company’s vertically integrated supply, production, and distribution chains are based on the newest technologies supplied by global leaders of the industry. The company owns a very difficult business model that combines various business lines in the structure. This transaction also involved other interested parties, including commercial banks. This loan is denominated in the domestic currency. Through attracting various financial components, we have attracted effective structure of financing for Chirina”, Gogol said.
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